first mortgage

noun

: a mortgage that has priority as a lien over all mortgages and liens except those imposed by law

Examples of first mortgage in a Sentence

Recent Examples on the Web

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Time to Own is administered alongside a Connecticut Housing Finance Authority, or CHFA, first mortgage loan, which is a loan taken out at a participating lender, of which there are dozens throughout the state. —

Gabby Debenedictis, Hartford Courant, 26 Nov. 2024 Such a law would allow the holders of first mortgages to stop worrying. —

Joshua Stein, Forbes, 20 Sep. 2024 Even if the first mortgage expressly states that it might be amended later without loss of priority, a conservative first lender and its conservative counsel will still worry about potential loss of priority to junior-priority liens. —

Joshua Stein, Forbes, 20 Sep. 2024 Prepayment penalty: Citibank does not charge prepayment fees on first mortgages. —

Kelsey Neubauer, CNBC, 23 July 2024 See all Example Sentences for first mortgage

Word History

First Known Use

1728, in the meaning defined above

Time Traveler

The first known use of first mortgage was in 1728

See more words from the same year

Cite this Entry

Style

“First mortgage.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/first%20mortgage. Accessed 30 Dec. 2024.

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